International Corporate Values
On January 22nd ECCO launched the 3rd edition of the International Index of Corporate Values.
The International Index of Corporate Values provides information about most frequently used words and terms by companies to formalize their values.
The study first launched in 2006 and then repeated in 2009 studied over 4,000 companies in 14 sectors of activity in 13 countries. For the first time we have been able to include Finland, Australia, and Switzerland.
Additionally 3,000 employees were interviewed by telephone in France, Germany, UK, Switzerland and Poland and asked about their views on corporate values and the companies they work for. The report clearly demonstrates that most employees expect more from their companies than just a salary and training. They want the companies they work for to give them a sense of their own life and to understand why they have chosen the company they work for as opposed to another.
In terms of the main trends coming out of the 2013 edition of the values, there are five major trends.
- Innovation has replaced quality as the top value. Recent years have been marked by a certain number of technical revolutions, notably in computing and telephony which have accustomed us to a certain rate of change.
- Sustainability as a concept gets much broader recognition as a value. It initially denoted the idea of sustainable development, but now is being applied in many other areas of corporate life such as sustainable values, sustainable technologies, sustainable management.
- Likewise, responsibility gets broader recognition. Corporate responsibility is not just seen in relation to employees but also with regard to the wider society.
- The appearance of community as a value indicates an awareness of companies’ influence up and responsibility for, the social body. Group solidarity or esprit de corps in no longer confined to membership of a team or a firm but extends into the wider community.
- The study also finds that there is a return to a certain number of corporate economic fundamentals such as growth, competitiveness and differentiation.